Student Rental. Summer Vacancy?

[Dylan McLauchlan]

Hello all,

Just found a really attractive property right near a local college. So far the numbers work very well, but I'm not sure what to factor in for the vacancy rates, since as a student rental it my not have tenants for the summer months.

The current Vacancy rate for that area according the CMHC portal is 6.2%.

To any of you with student rental properties what do you do over the summer months?

[Jaclyn B.]

@Dylan McLauchlan 

I offer flexible lease lengths to students. If they want a 9 or 10 month lease, they pay a little bit more to cover any potential summer vacancy. Otherwise they can sign a standard 1-yr lease. There's always a few students hanging around over summer who need short-term housing. You just have to be willing to be flexible and know that you're going to have to clean a bit more frequently.